WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $26.83.

WBTN has been the subject of a number of research reports. Morgan Stanley reduced their target price on shares of WEBTOON Entertainment from $23.00 to $17.00 and set an “equal weight” rating for the company in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft reduced their target price on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, HSBC initiated coverage on shares of WEBTOON Entertainment in a research note on Wednesday, September 4th. They set a “buy” rating and a $23.00 target price for the company.

WEBTOON Entertainment Trading Down 2.0 %

Shares of WBTN opened at $13.24 on Friday. The company’s fifty day simple moving average is $11.59. WEBTOON Entertainment has a one year low of $10.05 and a one year high of $25.66.

Institutional Trading of WEBTOON Entertainment

A number of hedge funds have recently bought and sold shares of WBTN. FMR LLC raised its holdings in shares of WEBTOON Entertainment by 45.0% in the 3rd quarter. FMR LLC now owns 6,136,865 shares of the company’s stock worth $70,206,000 after buying an additional 1,905,231 shares in the last quarter. Federated Hermes Inc. bought a new stake in WEBTOON Entertainment during the 2nd quarter worth about $32,145,000. Millennium Management LLC bought a new position in WEBTOON Entertainment in the second quarter valued at approximately $18,346,000. Barclays PLC grew its holdings in WEBTOON Entertainment by 1,404.1% during the 3rd quarter. Barclays PLC now owns 523,589 shares of the company’s stock worth $5,990,000 after acquiring an additional 488,779 shares during the period. Finally, Hood River Capital Management LLC bought a new position in shares of WEBTOON Entertainment in the 2nd quarter worth $10,352,000.

WEBTOON Entertainment Company Profile

WEBTOON Entertainment Inc operates a storytelling platform worldwide. The company’s platform allows a community of creators and users to discover, create, and share new content. Its platform offers stories primarily in two ways, including web-comics, a graphical comic-like medium; and web-novels, which are text-based stories.